Complaint Review: First Franklin Mortgage National City Bank Direct Mortgage Funding Paragon Appraisal Service - Pittsburgh Pennsylvania

I want to clear some things up for everyone that likes to be on the side of corporate corruption. First off the appraisal on my property was down by a local company and then submitted to First Franklin for aboval, since my first post I sent the falsified appraisal to the legal dept of First Franklin to point out that the comps didn't exist. I soon got a letter back from them stating that my loan was funded based on the information contained in a review appraisal done by Mr. Scott Page (they attached a copy) Mr. Page was hired by First Franklin to check the validity of the original appraisal and makes comments that the comp addresses did not exist and that if the area were used would put the my home in a higher market value. None of the comps were any where close to my home address and also the comps that Mr. Page used were 6 to 8 miles away from my home so he to could justify the inflated value. Both appraisals were 202K all of the comps that I did in my area come in at 170K to 180K which included 2 homes that were exactly the same style as mine. The difference between sale price and assessed value of the homes used for the comp's was an average of 38K the difference from my appraised value and my assessed value was 58K so you could add 38k to any of the comparable homes assesses value and be close to the sale price, my homes assessed value was 146K so the appraised value sould have been around 184K so it was inflated by 20K. Mr. Page brought this to underwriters attention and they still funded the loan. If they had question it and order another appraisal then the loan would have been less and then I could have refinanced before my loan was to adjust. This is currently being investigated by the FBI and Attorney Generals office for what they are calling "Over Reaching and Fraud For Profit" During this I got very ill and did get behind in my mortgage I tried to get caught up but at one point First Franklin stop accepting payments unless it was in full and before they foreclosed I file a chapter 7 which stop any foreclosure but the party who foreclosed was National City Bank who I find out later did not have a perfected lien on my property to do a deed of trust foreclosure though the Adams County Trustee but the Adams County Trustee allowed National the NED based on a false document submitted to the County Trustee that was an assignment attached to my original deed of trust with the lien holder as First Franklin and according to the Adams County Trustee every transaction that happens on a deed of trust must be recorded including any assignment which never happened so I filed a Federal law suit against the Adams County Trustee and National City Bank and just recently been given discovery. Bottom line is you can not do a deed of trust foreclosure if you are not listed on the deed of trust unless you have a registered assignment and because I was protected under Title 11 section 52 the Adams County Trustee must protect my asset from any out side party that can't prove that have a perfected lien. National City Bank owned First Franklin and it still does not give them the right to my property if they are not on title or the title was not assigned and registered with the Adams County Clerk and Records office this never happened ever. After I filed my case the Adams County Trustee was replaced and I am still in my home and my redemption period was over November 12. 2006. Our next step is the supreme court. There is also an investigation by Merrill Lynch into this situation seems that National City was trying very hard to clean up a lot of loans before the sale which is a little on the shady side. And one other investigation is by IRS checking the asset reports from First Franklin and National to see if they are claiming the same assets for their stock holder reports.

you should have known it was the broker and not the lender that did the 20k,you did get money after signing didnt you?or did the broker charge you more to get you where you needed to be at the time.Now you will be more aware the next time.

I am an employee of First Franklin which is an extremely highly rated and compliant lender. I feel bad for what happend to you however I think you may be blaming the WRONG ENTITY. First Franklin is a WHOLESALE LENDER. That means that they did not solict your business but that it was placed through our company through a MORTGAGE BROKER. First Franklin also DID NOT ORDER YOUR APPRAISAL, your broker would have. This means that your appraisal report was either modified by your broker or the appraiser was encouraged to provide a high value in his report in order to get you the loan YOU WANTED. Based on that appraisal that was provided to First Franklin by your broker and completed by an appraiser found by that broker your loan was underwritten and approved. FIRST FRANKLIN DID NOT MODIFY YOUR REPORT, and your allegation in simply untrue. Next time you file a "rip off report" in the court of public opinion make sure you understand what happended and you had all the facts.

You said, "Further more I have proof that the appraisal was inflated by 20,000.00 if you could see the evidence I have you would also agree, unless you are an appraiser or work for a mortgage company." Allow me to try to decipher this nonsense. Are you saying that I would agree with you, UNLESS I work for a mortgage company or I am an appraiser? Soooo, a loan officer or appraiser would not be qualified to assess your data, only YOU are? Hhahahahahah!! Please tell me, HOW MUCH IS YOUR HOME WORTH, AND WHAT WAS IT APPRAISED FOR?

Dear Hilarious, It is obvious that you must have trouble reading because you make comments that are completely wrong. If you had read my complaint you would have understood that the credit cards on my credit report were not mine they were put on my report in error and have since been removed (I have no credit cards). Further more I have proof that the appraisal was inflated by 20,000.00 if you could see the evidence I have you would also agree, unless you are an appraiser or work for a mortgage company. The state attorney generals office is looking into this now including the false information list in the appraisal, there are addresses used for comparable that do not exist, this is a fraud plain and simple it is obvious to me that some people like to agree with crooks because crooks stick together. There are a lot of situation that can cause people to get behind but you must be perfect because this could never happen to you.....until now. You will now experience this some thing first hand and then you will know what it's like, there is no stopping it, no matter what you do, it will happen. Bill

If they hadn't "over-inflated" (a little redundant, no?) your appraisal, you would have never been able to pay off your maxed out credit cards. Thus, your credit would have still been bad, and you would have had no chance to refi in the future. More importantly, a $20,000 discrepancy is NOT fraud. Since the rates were so low in '02, more people could afford to buy homes, which drove up market values. It is very possible that your home went down 20K from that 2002 value. Once again, not fraud. Also, as a homeowner, not having cash reserves to get you through 6 months of mortgage payments in the event of a job layoff is negligent. Did you expect to have your job forever? Dont you think its important to be able to support your family in the event that you lose your job? Apparently not. And the bank is not in business to CARE if you lose your job. You signed a "prommisary Note" in which you promised to make a certain number of payments for a certain # of consecutive months. You broke that promise. Why should the bank NOT take your home? It makes me laugh when people that dont know anything about mortgages or appraisals start throwing around the word "fraudulent." Hilarious.